Boston Partners Increases Holdings in Old National Bancorp $ONB

Boston Partners lifted its holdings in Old National Bancorp (NASDAQ:ONB) by 0.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,895,273 shares of the bank’s stock after acquiring an additional 17,033 shares during the period. Boston Partners owned 0.48% of Old National Bancorp worth $40,307,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ONB. Summit Securities Group LLC purchased a new position in Old National Bancorp in the 1st quarter worth approximately $32,000. Hantz Financial Services Inc. lifted its holdings in shares of Old National Bancorp by 310.7% in the second quarter. Hantz Financial Services Inc. now owns 1,532 shares of the bank’s stock worth $33,000 after buying an additional 1,159 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Old National Bancorp during the first quarter worth $51,000. Signaturefd LLC grew its stake in Old National Bancorp by 22.7% during the second quarter. Signaturefd LLC now owns 3,297 shares of the bank’s stock valued at $70,000 after acquiring an additional 609 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in Old National Bancorp by 18.7% in the 2nd quarter. Allworth Financial LP now owns 4,293 shares of the bank’s stock valued at $92,000 after acquiring an additional 677 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Piper Sandler reissued an “overweight” rating and set a $26.00 price objective (down previously from $27.00) on shares of Old National Bancorp in a report on Thursday, October 23rd. Barclays set a $29.00 price target on Old National Bancorp and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Old National Bancorp in a research note on Wednesday, October 8th. Cowen reiterated a “hold” rating on shares of Old National Bancorp in a research report on Monday, October 27th. Finally, TD Cowen boosted their price target on shares of Old National Bancorp from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.10.

Old National Bancorp Stock Down 0.4%

NASDAQ ONB opened at $21.80 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.85. Old National Bancorp has a 52 week low of $16.83 and a 52 week high of $24.49. The firm has a market capitalization of $8.52 billion, a price-to-earnings ratio of 12.75 and a beta of 0.89. The company has a fifty day moving average of $21.13 and a two-hundred day moving average of $21.53.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, February 1st. The bank reported $0.46 earnings per share (EPS) for the quarter. Old National Bancorp had a net margin of 17.39% and a return on equity of 14.95%. The firm had revenue of $222.80 million during the quarter. On average, analysts predict that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, December 5th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.56 annualized dividend and a yield of 2.6%. Old National Bancorp’s dividend payout ratio (DPR) is presently 32.75%.

Old National Bancorp Company Profile

Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, agricultural loans, letters of credit, and lease financing.